PsyBio Therapeutics Corp said it has been included in the AdvisorShares Psychedelics Exchange Traded Fund (ETF).
The intellectual property-driven, biotechnology company is currently developing novel, bespoke, and psycho-targeted therapeutics to potentially improve mental and neurological health. PsyBio is focused on the research and development of naturally occurring psychoactive tryptamines originally discovered in different varieties of hallucinogenic mushrooms, other tryptamines and phenethylamines.
The AdvisorShares Psychedelics ETF is described as a dedicated investment tool in the future of psychedelics. “Based on promising research, psychedelics have the potential to disrupt the mental healthcare industry," the ETF overview states.
READ: PsyBio Therapeutics advances intellectual property and clinical development milestones in 2Q
Boasting 16 psychedelics companies that are trailblazers in the sector, the ETF will actively manage investments in the emerging psychedelic drugs sector, offering exposure to those biotechnology, pharmaceutical and life sciences companies that the ETF sees as leading the industry.
The ETF is listed on the NYSE Arca under the ticker symbol 'PSIL'.
"The inclusion of PsyBio in AdvisorShares Psychedelics ETF recognizes us as a leader in the psychedelics industry, as we continue to research and develop innovative treatments to potentially improve mental and neurological health,” Evan Levine, Chief Executive Officer and Chairman of PsyBio said in the statement.
Levine added: “We want to thank AdvisorShares for this recognition, which is a testament to the work the company is advancing in this area. We are proud to be included in the ETF and look forward to continuing engagement with investors on the development of PsyBio's therapeutics program to treat specific clinical conditions."
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